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  • MTN Nigeria has dominated the country's telecommunications market over the years, accounting for the largest market share. All four operators, apart from 9mobile, recorded a significant increase in their subscriber base between May 2014 and March 2024.

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    The 2024 Global Peace Index reveals a decline in peacefulness in 97 countries, the highest since the index began.

    Nigeria is among the nations affected by regional conflicts and rising violence. With a peace index score of 2.91, Nigeria is facing increasing challenges.

    A deteriorating peace score impacts foreign investment and economic stability. Global economic losses due to violence reached $19.1 trillion in 2023.

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  • Only 10% of Nigerians earn above ₦100,000, according to the Nigerian Financial Services Market Report. This aligns with most reports about Nigeria, and it's in sharp contrast to the narratives online.
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    The FAAC's revenue distribution from 2017 to August 2023 highlights the dominance of Delta, Akwa Ibom, Rivers, and Bayelsa states in allocations. Despite Lagos' economic prominence, it ranked fifth. Here is the distribution of revenue among states between 2017 and August 2023.

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  • A Trend of Adult literacy rates of African countries

    Between 2018 and 2021, adult literacy rates across African nations exhibited significant disparities. Seychelles and South Africa led with literacy rates of 96% and 95%, respectively, indicating a high proportion of literate adults. Conversely, Chad had the lowest literacy rate during this period.

    These statistics underscore the uneven progress in educational attainment across Africa, highlighting the need for targeted interventions to improve literacy in lower-performing nations.

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    Countries by Global Innovation Index 2024

    The Global Innovation Index 2024 reveals a striking contrast in innovation performance between countries globally and across Africa. Switzerland leads the global rankings with an impressive score of 67.5, followed by Sweden (64.5) and the USA (62.4), highlighting their sustained investments in research, development, and technological advancement.

    In Africa, Mauritius takes the top spot with a score of 30.5, followed closely by Morocco (28.8) and South Africa (28.3). However, even Africa's most innovative nations achieve less than half the score of global leaders, indicating a significant innovation gap.

    Nigeria ranks 15th in the African ranking and 113th globally, out of 133 countries, with a score of 17.1.

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  • MTN Nigeria has dominated the country's telecommunications market over the years, accounting for the largest market share. All four operators, apart from 9mobile, recorded a significant increase in their subscriber base between May 2014 and March 2024.

    See more

  • The 2024 Global Peace Index reveals a decline in peacefulness in 97 countries, the highest since the index began.

    Nigeria is among the nations affected by regional conflicts and rising violence. With a peace index score of 2.91, Nigeria is facing increasing challenges.

    A deteriorating peace score impacts foreign investment and economic stability. Global economic losses due to violence reached $19.1 trillion in 2023.

    See more
  • Only 10% of Nigerians earn above ₦100,000, according to the Nigerian Financial Services Market Report. This aligns with most reports about Nigeria, and it's in sharp contrast to the narratives online.
    See more
Other Insights
Lagos State’s debt
 
  • Lagos cut external debt, but increased domestic debt.
  • The drop in external debt was meaningful, but the rise in domestic debt was much larger.
  • Stronger IGR gave Lagos more room to borrow and repay.
  • The state chose local funding over heavier dollar exposure.
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Nigerian states that reduced their external debts between June 2023 and December 2025
 
  • Lagos's debt reduction is larger than the other six combined.
  • Oyo posted the fastest reduction rate.
  • The biggest percentage cut did not equal the biggest dollar cut.
  • Debt reduction was concentrated, not broad-based.
  • Higher state revenues likely created room for repayments.
  • Lagos had the strongest fiscal capacity among the states shown.
  • Smaller debt stocks made percentage declines easier for some states.
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Change in external debt stock by state in Nigeria (Top 15, June 2023–June 2025)
 
  • All but four states increased their external debt between June 2023 and December 2025.
  • Northern states account for roughly 70% of the $1.34 billion added by states nationally.
  • Katsina recorded the highest growth in both absolute terms ($150 million) and rate (+296%).
  • 12 of the 15 fastest-growing state debts are in the north.
  • Lagos, Nigeria's largest debtor at $1.17 billion outstanding, was one of only four states that reduced its debt.
  • Kaduna carries the second-heaviest debt load at $684 million, despite a relatively modest 20% growth rate.
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Abia state debt
 
  • Abia’s domestic debt dropped by 66% between 2023 and 2025.
  • The state reduced domestic debt by about ₦94 billion.
  • Debt fell from roughly ₦138 billion to about ₦48.5 billion within two and a half years.
  • About ₦72 billion of inherited debt was cleared early in the administration.
  • External debt increased by 14% (+$12.9 million) over the same period.
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Adamawa State’s debt
 
  • Akwa Ibom’s domestic debt fell 41.5% over the period, from ₦138.6 billion to ₦48.5 billion.
  • External debt was almost stable, slipping just 0.9%.
  • The sharpest debt adjustment happened in local-currency obligations, not foreign debt.
  • The highest domestic debt level during the period was in December 2023.
See more
Top and bottom 20 Africa’s Crime Index (2025)
 
  • DR Congo had Africa’s highest criminality score in 2025 at 7.5.
  • South Africa ranked second at 7.4, while Nigeria occupied third spot at 7.3.
  • Kenya was the highest-ranked East African country at 7.2.
  • The gap between the highest (7.5) and lowest score (1.8) is wide — 5.7.
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  • 2026 is already Nigeria’s deadliest year, with six senior officer deaths as of April.
  • Borno accounts for most of the deaths.
  • 2025 already showed renewed pressure before the rise in 2026.
  • Lieutenant colonels account for the largest share of deaths by rank.
  • The pattern suggests attacks are increasingly targeting military command structures.
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Non-Performing Loan (NPL) ratio of selected banks in Kenya (2024-2025)
 
  • All eight selected Kenyan banks reduced their NPL ratios in 2025.
  • KCB recorded the largest improvement, with a 2.9% point drop.
  • KCB still had the highest NPL ratio in the group at 16.9%.
  • Co-operative Bank remained highly stressed at 15.7%, despite some improvement.
  • Equity Bank and Absa Bank Kenya both ended 2025 at 11.5%.
  • Standard Chartered Kenya had the lowest NPL ratio in the group at 5.5%.
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  • Only six states and the FCT increased domestic debt.
  • The FCT recorded the fastest domestic debt growth at 122.8%.
  • Enugu posted the second-highest increase at 70%.
  • Lagos remains the biggest borrower by value at ₦1.2 trillion.
  • Niger, Bauchi, and Kaduna saw smaller, yet notable increases.
  • Debt growth is concentrated, not broad-based across all states.
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  • FCT Abuja’s domestic debt jumped from ₦79 billion to ₦189 billion in one quarter.
  • This equals a 139.1% quarter-on-quarter increase.
  • Before Q4 2025, debt growth was relatively moderate.
  • Debt fell in 2024 before recovering in 2025.
  • The 2025 recovery was gradual until the final-quarter spike.
  • Q4 2025 pushed debt to the highest level in the series.
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  • East Africa has the highest Crime Index in Africa (6.02).
  • North Africa is experiencing the fastest rise in criminality (+0.57 since 2019).
  • West Africa remains one of the most exposed regions (5.49).
  • Southern Africa has the lowest index (4.88) but is still increasing.
  • All African regions recorded an increase in criminality between 2019 and 2025.
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  • Lagos dominates Nigeria’s subnational debt profile, accounting for 26.1% of domestic debt and 21.8% of external debt.
  • Six states account for 52% of domestic debt.
  • The same group contributes 40% of the external debt
  • Rivers ranks second in domestic debt (9.5%) but has a significantly lower external debt (3.8%).
  • Kaduna emerges as a major external borrower (13.7%) despite not appearing among the top domestic debt states.
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1 2 3 … 126
Lagos State’s debt
  • Lagos cut external debt, but increased domestic debt.
  • The drop in external debt was meaningful, but the rise in domestic debt was much larger.
  • Stronger IGR gave Lagos more room to borrow and repay.
  • The state chose local funding over heavier dollar exposure.
Read more
Nigerian states that reduced their external debts between June 2023 and December 2025
  • Lagos's debt reduction is larger than the other six combined.
  • Oyo posted the fastest reduction rate.
  • The biggest percentage cut did not equal the biggest dollar cut.
  • Debt reduction was concentrated, not broad-based.
  • Higher state revenues likely created room for repayments.
  • Lagos had the strongest fiscal capacity among the states shown.
  • Smaller debt stocks made percentage declines easier for some states.
Read more
Change in external debt stock by state in Nigeria (Top 15, June 2023–June 2025)
  • All but four states increased their external debt between June 2023 and December 2025.
  • Northern states account for roughly 70% of the $1.34 billion added by states nationally.
  • Katsina recorded the highest growth in both absolute terms ($150 million) and rate (+296%).
  • 12 of the 15 fastest-growing state debts are in the north.
  • Lagos, Nigeria's largest debtor at $1.17 billion outstanding, was one of only four states that reduced its debt.
  • Kaduna carries the second-heaviest debt load at $684 million, despite a relatively modest 20% growth rate.
Read more
Abia state debt
  • Abia’s domestic debt dropped by 66% between 2023 and 2025.
  • The state reduced domestic debt by about ₦94 billion.
  • Debt fell from roughly ₦138 billion to about ₦48.5 billion within two and a half years.
  • About ₦72 billion of inherited debt was cleared early in the administration.
  • External debt increased by 14% (+$12.9 million) over the same period.
Read more
Adamawa State’s debt
  • Akwa Ibom’s domestic debt fell 41.5% over the period, from ₦138.6 billion to ₦48.5 billion.
  • External debt was almost stable, slipping just 0.9%.
  • The sharpest debt adjustment happened in local-currency obligations, not foreign debt.
  • The highest domestic debt level during the period was in December 2023.
Read more
Top and bottom 20 Africa’s Crime Index (2025)
  • DR Congo had Africa’s highest criminality score in 2025 at 7.5.
  • South Africa ranked second at 7.4, while Nigeria occupied third spot at 7.3.
  • Kenya was the highest-ranked East African country at 7.2.
  • The gap between the highest (7.5) and lowest score (1.8) is wide — 5.7.
Read more
1 2 3 … 251
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